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What happened to the TL against the £ and $ in the last year

14th January 2015

A year ago we published a blog on whether the lira falling was a good or bad thing and it was pretty clear was the proverbial swings and round abouts.

It is good for tourist but may not be so good for locals.
Our article from last year is here --> Turkish lira falling – Is this a good or a bad thing?

•    At that time (11th January 2014) the lira stood at 3.57 TL to the £ and 2.16 TL against the $USD.
•    The lira today (13th January 2015)  is 3.45TL to the £ and 2.28 against the $USD.

So what does it tell us, is that since the 11th January 2014 the £ has slightly weakened and the $USD slightly strengthened.

Your £100 in 2014 would have brought you 357 lire and today would only buy you 345TL, a decrease of 12TL or two cups of Turkish coffee or two chicken kebabs from the store down the road for every £100 you cashed up.

If you converted your £100 to US$ today, you would get $151 or 344TL, last year £100 would have given you $164 or 326 lire. So we have seen the $USD strengthen against the pound is really the key thing.

Looking at the currency graphs from online currency information provider XE.com for 2014 to today, you see the following

•    If you were really go to buy TL at the highest level would have been the 25th January 2014 when it reached 3.81 TL to the £. With the highest point for the $ at 2.354 on the 15th December 2014.
•    Also todays level of the lira against the £ is the lowest in a year; 10% less TL against the £.


http://www.yellali.com/groupama/xe.png


So, in summary we have seen some change through out the year but it has not been dramatic and the TL appears reasonable stable over the last year with one exception January 2015 when the TL is record lows against the £.

For the rest of 2015 how knows but at this point the experts and there crystal balls are not predicting anything dramatic from what we could see when we researched 2015.

•    Please note: all rates are mid market rates from XE.com




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Comments (1)

Pat Yale

14th January 2015 I don't think it much helps to just look at one year in isolation. In reality throughout much of late 2000s the lira was worth around 2.50 to pound. There has since been a dramatic change in its value which has had huge repercussions for those of us living here. Looking at just one year is only really useful for people contemplating coming to live here now.

For tourists the point has to be made that most hotels in tourist areas charge in hard currency thereby preventing them from gaining the true value of devalued currency - while simultaneously meaning that those of us without hard currency in our pockets are more or less priced out of the main tourist locations such as Sultanahmet. Even in a relatively cheap 80-euro hotel you would be paying almost TL240 a night!


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